Bloomberg reported, citing sources, that China’s Ant Digital is working on tokenizing up to 60 billion yuan ($8.4 billion) in renewable energy assets as part of an RWA tokenization push. In June we reported examples of these tokenizations, including the tokenization of 9,000 electric vehicle charging points for Longshine Technology Group as part of Hong Kong’s Project Ensemble trials. Additionally, it tokenized solar powered infrastructure for GCL Energy Technology, with the combined transactions worth 300 million yuan ($42m).
Currently the assets are on the AntChain, an enterprise blockchain. While tokenizing an asset can help to raise funds and potentially cut out some middlemen, there’s a need for secondary markets to make them more liquid.
To address liquidity, Ant Digital is eyeing trading the assets on decentralized exchanges on public blockchains, subject to Hong Kong regulatory approval. The news outlet claimed that Ant Digital has invested in the Pharos layer one blockchain, though this investment was not disclosed in Pharos’ publicly announced $8 million seed funding round last year. The selective disclosure of Ant’s investment raises questions about the motivations behind the revelation. Pharos’ CEO Alex Zhang was the former CEO of Ant ZAN, its real world assets (RWA) arm.
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